Seven Grand Managers LLC Buys Shares of 1,050,000 Rithm Capital Corp. (NYSE:RITM)

Seven Grand Managers LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,050,000 shares of the real estate investment trust’s stock, valued at approximately $11,918,000. Rithm Capital accounts for about 2.7% of Seven Grand Managers LLC’s investment portfolio, making the stock its 11th biggest holding. Seven Grand Managers LLC owned 0.22% of Rithm Capital at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RITM. Seelaus Asset Management LLC increased its holdings in Rithm Capital by 2.7% during the 1st quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 955 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Rithm Capital by 4.1% during the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,183 shares in the last quarter. Founders Financial Alliance LLC raised its position in Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 1,286 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its position in Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 1,481 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RITM shares. JMP Securities lifted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.67.

Rithm Capital Stock Up 0.4 %

Shares of RITM stock opened at $10.89 on Thursday. Rithm Capital Corp. has a 52-week low of $8.87 and a 52-week high of $12.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 7.26 and a beta of 1.80. The firm’s 50-day moving average is $11.36 and its 200-day moving average is $11.19.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. Sell-side analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Rithm Capital Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.